China Airlines’ shares slipped 0.9% yesterday, despite the carrier reporting improved year-on-year yield improvements for Dec-2009. The worst may now be behind the carrier, after yields appear to have bottomed out in Jul-2009/Aug-2009.

During the month, the carrier’s passenger yield slipped 12.4% (off low double-digit growth in Dec-2008), although this was the smallest contraction in seven months. Cargo yield was up 10.0%, off a negative base in Dec-2008, for the largest year-on-year increase since Sep-2008, as the carrier benefited from improved Christmas cargo activity.

Meanwhile, Kingfisher Airlines’ shares remained stable yesterday, upon the release of the carrier’s financial highlights for the three months ended 31-Dec-2010. The carrier stated it is seeing improved traffic/demand levels, with “buoyant” demand expected to continue. The carrier added it is experiencing an “improvement” in both premium and economy yields.

However, in the quarter, the carrier reported revenue per RPK reduction of 19%, contributing to a 7% year-on-year revenue reduction, despite a 4% increase in passenger numbers and a 14.5 ppt load factor improvement. The carrier reported a loss after tax of USD92 million in the period (an improvement from a loss of USD90.1 million in the previous corresponding period), with an EBITDA loss of USD17.0 million.

JAL’s shares dropped to another new record low of just JPY2 (USD 0.02 cents) on 20-Jan-2010, slumping 60%. Also in the Japanese market, Skymark Airlines’ shares gained 8.3%, with ANA shares’ down 1.8%.